The Nissan X-Trail 2.0L Hybrid has joined the Nissan Leaf in Edaran Tan Chong Motor’s list of cars available with a subscription plan (within the group, TC Euro Cars is also offering the Renault Captur and Koleos for subscription). Touting lower upfront payment compared to a regular hire purchase loan, as well as a lower total amount paid over three years with no concerns over depreciation, ETCM’s subscription plan is offering the hybrid SUV for RM2,500 a month.
Like the plan for the Leaf, X-Trail Hybrid buyers going the subscription route will need to fork out two months of security deposit and the annual insurance for the RM159,888 car, which is RM5,000 and RM4,500 respectively. Include the first month’s RM2,500 fee and you upfront payment is RM12,000.
That’s lower than the RM17,388 upfront payment of the HP loan, which is calculated based on a five-year loan tenure with a 90% margin at a 2.6% interest rate. The regular loan route will see one cough up RM2,769 per month.
As for total amount paid after three years, the car subscriber would have forked out RM100,452 versus RM123,006 for the HP loan taker. These sums take into account monthly payments, insurance and road tax for three years, applicable to both routes. Periodic maintenance is free for three years, excluding wear and tear items.
Side-by-side, that’s RM22,554 saved for the subscriber, although by the end of the three-year contract, they’ll have to return the X-Trail to ETCM, while the purchaser will still have their SUV to keep or sell.
Those who clock up high mileage will have to take note that the subscription plan comes with a mileage cap, which is 60,000 km over the three-year tenure, which works out to just under 1,700 km per month on average. Any extra mileage will be charged 50 sen per km. As the car does not belong to you but ETCM, subscription cars will have a telematics device installed. For a more detailed look at how this subscription plan works, check out the piece we did on the Nissan Leaf.
Whether a subscription plan or the good ol’ hire purchase loan is best for you, ultimately depends on your usage and priorities. It’s not too unlike the likes of Mercedes-Benz’s Agility Financing – fast and easy, change to a new car every three years, no residuals to think of.
An extra note: some cars are bugged by the perception of “low resale value” for various reasons, including the perceived high cost of hybrid battery replacement. The electrified X-Trail and the fully-electric Leaf certainly fall into this category, so a subscription plan may be a good way to sample these cars without having to worry about RV further down the road.
The X-Trail Hybrid was launched in April as part of the 2019 Nissan X-Trail facelift range, which includes the entry-level 2.0L 2WD (RM133,888), 2.0L 2WD Mid (RM145,888) and 2.5L 4WD (RM153,888).
GALLERY: 2019 Nissan X-Trail 2.0L Hybrid
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Just be realistic, who wanna pay for renting a car over the period of three years? If you have the cash, take the loan… At this snail slow economy, not many out there have spare cash to splash like before. It’s forecast the worst yet to come, so prepare for economy crisis soon dude!
The same monthly installments as buying it, without actually owning it. Great deal…. for Tan Chong, that is.
How about expats? Companies?
Companies would buy them under corporate expenses and could also claim tax deductions, after few years they could lelong the car at face value. Money would still go back to the companies. If they go with this plan, they eventually get nothing.
Expats? They prefer leasing, buy cheap used cars, or use corporate cars as above. Again this plan does not benefit them.
Car leasing is best for big corps and SMEs.
YOu are right. Economy is bad. All the more when now we have to compensate for 60 years of corruption and stealing
And you proposed we do that by bring in the man responsible for that 60 years of corruption and stealing? Smh
Their plans aren’t flexible enough. Why do they assume everyone is okay with a 3 year plan? Some prefer 5 while some prefer 1-2 years plus it doesn’t make sense to compare a 3 year plan with a 5 year hire purchase plan. In addition to that I’m not even in their target market lol since I prefer BMW’s 1-3 monthly subscription plan.
wow…mileage cap at 60k km for 3 years..look like mobile internet quota.
Apa la compare 3yrs rent dgn 5yrs hp?? Majoriti mlaysians would take the maximum 9yrs, believe me if there are banks who can provide >10yrs ppl would take that, believe me!
Joke of the year
I have never seen this suv on the road…
This subscription plan is really misleading, it is total confusion to say saving of 20k+ for the plan vs the hire purchase, because the car still belong to etcm after the end of subscription, whereas for hire purchase the car belong to us, WHAT IS THE LOGIC OF COMPARING???
“Side-by-side, that’s RM22,554 saved for the subscriber, although by the end of the three-year contract, they’ll have to return the X-Trail to ETCM, while the purchaser will still have their SUV to keep or sell.”
This statement alone will scare away subscribers if they read it carefully.
Monthly allowance mileage is only 1700km, exceed this limit every KM charge RM0.50. Mean this leasing package is mainly targeted on office worker with just less than 57km allowance daily.
I worked at leasing company for few years and well know the leasing package. This is operating lease where end of the tenure the owner is still ETCM.
Car is long lasting item and normally can use up to 10 years or more. Lets say we take 5 years leasing and monthly RM2500, total sum paid is RM150k. After 5 years ETCM take back the vehicle and refurbish it to sell to second market in 25% value RM42,500.
RM150000 (total rental received) + RM 42500 = RM 192500. RM 192500 – RM10000 (repair before sell in 2nd hand market) = RM 182500. New car value is RM160k and ETCM has already make profit over the new car and by selling out in used market it make additional RM22500.
no money to buy, please don’t lease. it’s never worth it. might as well just drive a kembara if cannot afford.
Side-by-side, that’s RM22,554 saved for the subscriber, although by the end of the three-year contract, they’ll have to return the X-Trail to ETCM, while the purchaser will still have their SUV to keep or sell.
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This ends the discussion right. Its the same situation with all those BMW/Merc “leasing” plan. Works out to be a ridiculously bad deal for the customer. Pls look into those leasing deals offered in America then we start talking.
Must be bad resale value and high depreciation, that’s why they are offering for subscription. But pricing wise, it’s not sensible. Anyway, this SUV is low on torque, and body shape wise doesn’t really help when manoeuvring. Try it, u will understand